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Further to the statutory audit of its financial results for FY24, MobiKwik (ONE MOBIKWIK SYSTEMS LIMITED), one of India's largest digital financial services platforms, recorded profitable growth in FY24 with a total income of INR 890.32 crores, registering a 58.67% increase over the previous year.
MobiKwik has demonstrated a strong revenue momentum (up 58.67%) with a focus on profitability. Significant turnaround to a positive EBITDA of INR 37.22 crores in FY24 from a loss of INR 55.92 crores in FY23, resulting in a positive EBITDA margin of 4.18%, while PAT also improved to a profit of INR 14.08 crores from a loss of INR 83.81 crores in FY 23.
MobiKwik’s aim has been to remain consistent across the fintech space, demonstrating strong financial performance and growth over the years. This consistency is reflected in the Company’s ability to increase its total income over the last years, with a turnaround in key financial metrics such as EBITDA and PAT.
The financials of the last three fiscal years can be accessed at https://www.mobikwik.com/ir/financial-statements
Upasana Taku, Co-founder & CFO, of MobiKwik, said, "We are delighted to have successfully transitioned from losses to full-year profitability. We’ve made a lot of progress in advancing our products and expanding our reach to smaller towns and cities where the country is currently witnessing increased digital growth. To close out the year, strength in our business was driven by our growing user base and revenue from our financial services business.”
“Our FY24 performance reflects our strategy of achieving growth while fostering innovation in the fintech space. As we enter the new financial year, our vision is to sustain this growth trajectory by upscaling our products and services,” she added.
MobiKwik is a digital financial services platform that offers payments and financial services. The Company continues to develop new products that ensure greater financial inclusion, creating value for consumers, merchants, and other partners. “We continue to add users to the top of the funnel and provide everyone a more engaging financial services experience in the palm of their hands,” Upasana added.
MobiKwik uses data analytics and machine learning to continually improve its platform for users and merchants to increase engagement with existing consumers.